Vesper Holdings ('Vesper'), a privately-held real estate investment firm based in New York City, and funds managed by affiliates of Fortress Investment Group LLC ("Fortress"), a leading global investment manager, are pleased to announce their joint venture acquisition of The Domain located in Columbia, Missouri.
Built in 2013, The Domain is a 654-bed apartment community that caters to University of Missouri students. Located just minutes from campus, The Domain consists of ten 3-story buildings situated on a 22.98-acre site. The property's unit mix is comprised of 1, 2, and 4-bedroom floorplans - all with bed-to-bath parity.
The apartments feature contemporary kitchens with granite countertops and stainless-steel appliances, and washers and dryers. All units come fully furnished. Residents enjoy a full range of amenities including a fitness center, a study center, a golf simulator, a movie theater, a game room, volleyball court, and the largest resort style pool in Columbia.
"Our acquisition of The Domain is part of a strategy to purchase best-in-market student housing properties that offer our investors superior risk-adjusted returns," commented Isaac Sitt, Co-founder and Co-CEO of Vesper Holdings. "The Domain marks our first acquisition with Fortress. We look forward to expanding our relationship with Fortress as we pursue additional assets in the months to come."
Vesper's student housing portfolio is among the 10 largest in the United States. Vesper's portfolio, including The Domain, is managed by Vesper's subsidiary property management company - Campus Life & Style ("CLS"). CLS currently manages over 25,000 student housing beds across 27 university markets.
About Vesper Holdings
Founded by Elliot J. Tamir and Isaac J. Sitt, Vesper Holdings is a privately held real estate investment firm based in New York City. Vesper Holdings' diverse portfolio includes student housing, retail, mixed use, office buildings and parking structures. Vesper Holdings ranks as one of the top 10 student housing owners in the United States. Its real estate portfolio consists of 49 properties, including nearly 20,000 student housing beds.
Source: Vesper Holdings
Media contact: Douglas Kligman - 212-406-4000
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